Sales Performance - In 2025, the company experienced mixed sales results across product categories, with stable positions in functional footwear materials and sofa home furnishings, a decline in sports equipment, stable performance in consumer electronics, and growth in automotive interior materials [2][3]. - The automotive interior market is increasingly adopting PU materials, particularly among new energy vehicle manufacturers, due to their superior physical properties and eco-friendliness [2][3]. 2026 Sales Outlook - The marketing department holds an optimistic view for 2026 sales, acknowledging both challenges and opportunities in a complex macroeconomic environment, with a focus on expanding market share and revenue in functional footwear, sofa home furnishings, automotive interiors, and consumer electronics [4]. - The company aims for a steady and moderately positive production and operational plan for 2026, targeting improved performance through market expansion and product development [4]. Key Client Relationships - The company upgraded to a strategic partner with Nike in 2025, leading to increased sales and a goal to further enhance its share within Nike in 2026 [4]. - Collaborations with Adidas are in a growth phase, with production expected to ramp up in 2026, alongside maintaining strong relationships with brands like Puma, Asics, Anta, Li Ning, and Tebu [4][5]. Order and Production Status - The company employs a sales-driven production model, expecting stable order conditions in Q1 2026, with overall production and operations running smoothly [5]. - In the consumer electronics sector, the company is actively expanding its client base and developing new products to meet lightweight and high-performance demands [6]. Market Expansion in Emerging Fields - The company has achieved some production orders in the semiconductor and healthcare materials sectors, although these currently represent a small portion of overall revenue [6]. - There is ongoing development in the field of embodied intelligence, with efforts to optimize sample performance and appearance based on client feedback, although substantial orders have yet to materialize [6]. International Operations - In August 2025, Amway Vietnam launched two remaining production lines, leading to a gradual release of capacity and achieving monthly profitability in Q4 2025, despite an overall loss for the year [6].

Core Viewpoint - The company, Amway Co., reported that the demand for sofa home furnishings has been affected by the downturn in the real estate market and fluctuating U.S. tariff policies, leading to some volatility in its sofa home furnishing business [1] Group 1: Market Conditions - The real estate market's declining performance has impacted the terminal demand for sofa home furnishings [1] - External factors, such as U.S. tariff policies, have also contributed to the challenges faced by the company [1] Group 2: Business Performance - The company has experienced some fluctuations in its sofa home furnishing category but is mitigating these effects through customer expansion and structural optimization [1] - Collaboration with brands such as ZhiHuaShi, AishiLi, and GuJia has shown positive trends, indicating a strengthening partnership [1] Group 3: Customer Development - The company has cultivated a number of brand clients with sales volumes ranging from 5 million to 20 million, gradually expanding its market presence [1] - There is a notable increase in brand recognition and reputation among domestic and U.S. sofa home furnishing clients [1]